Occasional Papers

Determinants and Systemic Consequences of International Capital Flows

Author/Editor:

D. F. I. Folkerts-Landau ; Donald J Mathieson ; Morris Goldstein ; Liliana Rojas-Suárez ; José Saúl Lizondo ; Timothy D. Lane

Publication Date:

April 15, 1991

Summary:

The growing integration of capital markets has strengthened incentives for greater international coordination of economic and financial policies. Structural changes in these financial market, however, may have undermined the effectiveness of monetary and fiscal policy and complicated market access by developing countries. These are among the findings of this study of capital flows in the 1970s and the 1980s.

Series:

Occasional Paper No. 1991/008

Subject:

Balance of payments Banking Capital flows Capital outflows Credit Financial markets Foreign direct investment Money Payment systems